Higher Open Predicted For South Korea Shares

(RTTNews) - The South Korea stock market has moved higher in three straight sessions, collecting more than 40 points or 1.7 percent in that span. The KOSPI now sits just above the 2,565-point plateau and it's expected to open to the upside again on Wednesday.

The global forecast for the Asian markets is positive on optimism ahead of earnings season. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The KOSPI finished modestly higher on Tuesday following gains from the financial shares and automobile producers, while the technology stocks were mixed.

For the day, the index added 16.56 points or 0.65 percent to finish at 2,565.42 after trading between 2,542.25 and 2,571.41. Volume was 526.42 million shares worth 8.03 trillion won. There were 659 gainers and 236 decliners.

Among the actives, Shinhan Financial jumped 2.13 percent, while KB Financial collected 1.39 percent, Hana Financial strengthened 1.45 percent, Samsung SDI fell 0.33 percent, LG Electronics climbed 1.13 percent, SK Hynix shed 0.66 percent, Naver added 0.51 percent, LG Chem rallied 2.04 percent, Lotte Chemical perked 0.16 percent, SK Innovation advanced 0.94 percent, SK Telecom dropped 0.93 percent, KEPCO gained 0.59 percent, Hyundai Mobis surged 2.19 percent, Hyundai Motor accelerated 2.01 percent, Kia Motors spiked 2.14 percent and Samsung Electronics and POSCO were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Tuesday but trended steadily upward throughout the session to finish with solid gains.

The Dow rallied 300.03 points or 0.75 percent to finish at 40,527.62, while the NASDAQ advanced 95.19 points or 0.55 percent to close at 17,461.32 and the S&P 500 gained 32.08 points or 0.58 percent to end at 5,560.83.

The strength that emerged on Wall Street came amid positive developments on the trade front, with Commerce Secretary Howard Lutnick telling CNBC the Trump administration had reached its first trade deal.

Earlier in the day, traders seemed reluctant to make significant moves ahead of the release of key earnings and economic news in the coming days.

Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Visa (V), Eli Lilly (LLY), Chevron (CVX) and Exxon Mobil (XOM) are all due to report earnings this week.

Crude oil futures moved sharply on Tuesday amid ongoing concerns that a weakening U.S. economy and the U.S.-led trade war with partners will hurt energy demand. West Texas Intermediate crude for June delivery plunged $1.63 or 2.6 percent to $60.42 a barrel.